Budget Allocation: National, State Assemblies To Spend N724 Billion In 2024

Budget Allocation: National, State Assemblies To Spend N724 Billion In 2024....KINDLY READ THE FULL STORY HERE▶

The analysis of the 2024 budgets for the National Assembly and the 36 state assemblies, along with their affiliated agencies, reveals an estimated expenditure of about N724 billion for the fiscal year. According to findings by The PUNCH, a significant portion of this budget, approximately N50 billion, is allocated for the payment of salaries and allowances to federal and state lawmakers.

Within the federal and state budgets, a total of N673.94 billion is earmarked specifically for the operations of the national and state assemblies and their related agencies. However, it’s worth noting that the actual allowances may surpass the disclosed figures due to undisclosed amounts allocated to various lawmakers.

An in-depth breakdown shows that Senate members, numbering 109, are slated to receive N8.67 billion in salaries and allowances, while the 360 members of the House of Representatives will receive N24.43 billion. Notably, certain allowances such as constituency allowance, duty tour allowance, estacode, recess, and severance gratuity are specified, contributing to the overall expenses.

Further scrutiny reveals that the Speaker of the House is set to receive an annual salary of N2.48 million, with the deputy speaker receiving N2.29 million annually. Similar salary structures are observed in state assemblies, with speakers and their deputies allocated respective amounts. Additionally, other members of both federal and state assemblies are allotted basic annual salaries, alongside a comprehensive set of allowances.

Moving beyond individual compensations, the budgets allocate significant funds to the operational aspects of the assemblies. For instance, the National Assembly’s budget includes provisions for office activities, envelope funding for the Senate and the House of Representatives, and allocations for affiliate bodies such as the National Assembly Service Commission and the National Assembly Institute of Legislative and Democratic Studies.

In parallel, state assemblies receive substantial funding for their operations, with budgets varying across different states. Notably, some states allocate considerable sums to their assemblies, indicating the importance placed on legislative functions at the state level.

In response to these budget allocations, some state assemblies have expressed concerns about the adequacy of the funds allocated to them. For instance, the Ondo State House of Assembly has highlighted the insufficiency of the budget earmarked for its operations in 2024. This sentiment underscores the ongoing discussions surrounding assembly autonomy and the need for increased financial independence.

Overall, the analysis underscores the significant financial resources allocated to sustain the operations of both national and state assemblies, reflecting the critical role they play in governance and legislation at both levels of government.

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